You are given the following information for the Limassol District: Population 2020 Population growth rate 2021 Population growth rate 2022 Average household size 2020 Average household size 2021-2022 Total housing stock 2020 Number of housing units in building permits that were issued in 2019 Number of housing units in building permits that were issued in 2020 248,500 1.6% 2.3% 2.68 2.61 99,869 1,980 1,210 Assuming that it takes two years from the date of the building permit issuance to complete a housing unit and making any other assumptions needed, calculate the difference between demand for and supply of housing at the end of 2022. Show clearly and explain all your calculations. Also, explain what the result of your calculations means in terms of the expected market situation in 2022 (equilibrium, excess demand or oversupply) and how house prices should move as aresult of thi: situation.

You are given the following information for the Limassol District: Population 2020 Population growth rate 2021 Population growth rate 2022 Average household size 2020 Average household size 2021-2022 Total housing stock 2020 Number of housing units in building permits that were issued in 2019 Number of housing units in building permits that were issued in 2020 248,500 1.6% 2.3% 2.68 2.61 99,869 1,980 1,210 Assuming that it takes two years from the date of the building permit issuance to complete a housing unit and making any other assumptions needed, calculate the difference between demand for and supply of housing at the end of 2022. Show clearly and explain all your calculations. Also, explain what the result of your calculations means in terms of the expected market situation in 2022 (equilibrium, excess demand or oversupply) and how house prices should move as aresult of thi: situation.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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